US nearing credit limit

[01RedDX]

.

[roopi]

He should go to war.

[Kirbs17]

[ninjak84]

Holy shit!

The government needs Congressional authority to borrow and the total accumulated debt is now close to its limit of $8.2 trillion

haha I can just picture Bush trying to pay for a large expensive meal for a group..... Then having the waiter whisper in his ear that his credit card was denied

"Sorry sir. You've apparently exceeded your limit of 8 trillion dollars"



On a serious note, I wonder how this is going to affect world affairs....

[Charon]

I know nothing of finances... but whom do you get a loan for 8.2 trillion from ?

Some honest fellow in nigeria ?

[PaPa LuV]

no wonder the canadian dollar is on a 14 year high. 0.88 cents

[toyboy88]

Originally posted by roopi
He should go to war.

[bituerbo]

Originally posted by Charon
I know nothing of finances... but whom do you get a loan for 8.2 trillion from ?

Some honest fellow in nigeria ?

You sir, deserve sig space.

[nadroj23]

^^^

[handsomebassman]

Well this is what happens when you have a severly handicapped cowboy in office.

Now it'll be young guys and girls, just like us, in the states paying off Bush's debt for the rest of their lives.

[blueToy]

Originally posted by handsomebassman
Well this is what happens when you have a severly handicapped cowboy in office.

Now it'll be young guys and girls, just like us, in the states paying off Bush's debt for the rest of their lives.

Sorry Bassdude , as much as I loath the ' Cowboy ' , this is not all his fault . Wracking up 8.5 trillion dollars in debt has been the result of many past failured Administrations . Also , we ourselves in Canada have a huge debt too , some $400 billion . If you look around ,you'll see that most democratic countires have prospured out of being a second or third world status by spending , spending , spending . It has been a wild ride , and totally unrealistic for sooo long that we all just take it in stride because the ' Think Tanks ' and special lobby groups advise us to . YIKES !!

[handsomebassman]

^^^yea i suppose thats another way to look at it. But you have to admit that bush HAS been on a spending spree since in office.

[ninjak84]

Originally posted by blueToy
Also , we ourselves in Canada have a huge debt too , some $400 billion .

Originally posted by handsomebassman
But you have to admit that bush HAS been on a spending spree since in office.

Yeah, everyone should know that Bush has accumulated way more than $400 billion toward the debt since he became President (the war cost some $200billion, New Orleans about a trillion....). It's entirely fair to say that he's racked up more debt in his Presidency than Canada has in its entire history.

[Phy]

Wouldn't be a thing if you could get every woman, man and child in America to pony up $28,000.

[khtm]

Originally posted by blueToy



Sorry Bassdude , as much as I loath the ' Cowboy ' , this is not all his fault . Wracking up 8.5 trillion dollars in debt has been the result of many past failured Administrations . Also , we ourselves in Canada have a huge debt too , some $400 billion . If you look around ,you'll see that most democratic countires have prospured out of being a second or third world status by spending , spending , spending . It has been a wild ride , and totally unrealistic for sooo long that we all just take it in stride because the ' Think Tanks ' and special lobby groups advise us to . YIKES !!

In Clinton's 8 years in office, the US debt increased by 1.6 trillion. Bush has already increased it by 2.7 trillion in 5 years. And people speculate that it could pass 11 trillion by 2010 at the current rate.

Hard to put it all on Bush though, as part of Clinton's economic success could of course by linked to the stock market boom during his time in office.

If anyone's interested, here's the CIA's rankings of different countries' debts:

http://www.cia.gov/cia/publications/.../2079rank.html

[Phy]

So the world is 12.7 trillion in debt.

WHO the fuck TO?

[benyl]

Bush's main problem is that he cut taxes. The war and the disasters just added to the problem. It is his economic policy that has put him in the situation he is in.

The 8.2 Trillion is just made up money. Any of you who took econ know that the US government "prints" that money out of thin air. Sure, there are some foreign bank that may also be involved, but most of it is owed to the future generations of the US that will have to pay down that debt.

Also, having debt isn't a bad thing. You can always sell infrastructure like roads to pay for that debt. Plus, why should this generation pay for the roads that the next generation is going to use?

[benyl]

Originally posted by Phy
So the world is 12.7 trillion in debt.

WHO the fuck TO?

To their own respective countries and possibly a portion to other countries.

Where do you think money comes from? Governments print it out of thin air.

[blueToy]

Originally posted by handsomebassman
^^^yea i suppose thats another way to look at it. But you have to admit that bush HAS been on a spending spree since in office.

They've all been living " la Vita loca " . Absolutely criminal , in my mind . When this rickety house of cards fall , it's gonna fall HARD .

[blueToy]

If anyone's interested, here's the CIA's rankings of different countries' debts:

http://www.cia.gov/cia/publications/.../2079rank.html [/B][/QUOTE]



LOL , yeah , there's some unbiased information .
Also , according to a article recently published ( shoveled ) by the Hearld , Canada's debt was around $400 billion . Sorry , no linky , but , even if it is around $600-700 billion as the CIA says it is , thats still whacked for our small population . How the hell did this happen is what we'll end up saying one day .